Closing the Out of Home Advertising Sale

Kevin Gephart, Out of home advertising sales expert

Closing a sale isn’t a magical recipe of words/phrases; it is a strategic conclusion to a specific process.

Identify the decision-maker, ask good questions, design an intelligent solution,  use spec creative, include a service contract, display a concise summary page and the close should be natural.

State in your proposal “all rights to the material in the proposal are reserved. The pricing/elements included are available for purchase through X date” (two weeks in the future).

People want to buy. No one wants to be sold.  Technics for closing a sale need to be finessed and honed one prospect at a time. Ask for the sale with great confidence knowing you can solve a prospect’s problem better than anyone else.

OOH is the best media to close because all of our inventory is one-only, exclusive. Except for digital, there can only be one advertiser on a static unit at a time, as opposed to other media that have multiple advertisers using the same time/space. Stress the fact that other advertisers could reviewing the same units.

Prior to the presentation, visualize what success looks like and use it as an affirmation. If the prospect is baulking at signing, determine if it is due to a legitimate reason or simply a “stall”.  Retrace the proposal and determine if there are areas of disagreement.  When prospects won’t give you direct feedback, ask: “if there were anything in this proposal, you’d change what would it be?”  If they are deferring to a partner/spouse/board etc., ask what questions those third parties would likely have.

If it is a legitimate objection, ask if you changed that element if you have an agreement.  If not, determine any other needed changes.

“Stalls” can be like kryptonite. While the prospect holds a lot of power, recognize your power and control.

Prospects decide whether to buy, but you decide what the proposal will ultimately contain, the terms of the deal, and the timeframe that it will be valid.

It is powerful to pull the proposal off the table if they stall too long. Explain that it seems, I have not identified adequate solutions to your problem, so you’ll close out the proposal. You’ll return when you can more directly address their needs.

When you get agreement have them sign it and “shut up”. There will always be details and information the prospects will need; leave and circle back with that information later.  Legendary billboard pioneer Karl Eller said, when he was negotiating with R. O. Naegele to rep Naegele Outdoor, they struck a deal (without signing it) and went to lunch.  There is Mr. Naegele then tried to change the deal in a way that Eller couldn’t live with, and the entire agreement fell apart.

“No” always means “no” for now.  Selling a prospect is an installment in an infinite timeline.

You always win every sale…you either get a contract or a lesson. Calling on prospects is the very best sales training…. learn early, learn often!

Next week: Executing your program

If I can leverage my experience to help you/your company sell more OOH faster, contact me at: KevinJGephart@gmail.com

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